Colorado became the latest state to dramatically increase its overtime threshold last week when the state Department of Labor and Employment released its new rules governing minimum wages and overtime requirements. Under the new rules, the state threshold will mirror the federal trigger of $35,568 until January 1, 2021, at which time the Colorado threshold increases to $40,500 per year ($778.85/weekly). Subsequently, that threshold will jump $5,000 on January 1st (Happy New Year!) each year through 2024 when it will be set at $55,000 annually ($1,057.69 weekly). Beginning in 2025, the overtime threshold (along with the state minimum wage) will adjust annually with the consumer price index.